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Main Street Matters Blog
Find out what's happening in communities across America, from grassroots advocacy efforts, to fintech innovations and everyday successes of Main Street banks.
From concerns about Libra to the development of the Federal Reserve’s FedNow real-time payments settlement service, policymakers are poised for action on behalf of their government, business and consumer constituents.
The latest iteration of the Fed’s triennial study showed that in 2018, noncash payments¹ amounted to $97 trillion, with transaction volume reaching more than 174 billion. That kind of market opens new opportunities for community banks.
In banking, one thing is for certain – and that is change. With the advent of new technologies and solutions, education will be the indispensable complement to ensure community banks can take advantage of the opportunity these changes afford.
As we welcomed in the new decade, ICBA signaled its ongoing commitment to community banking innovation with the launch of our second ICBA ThinkTECH Accelerator program.
ICBA's Kevin Tweddle discusses unexpected benefits of ICBA's ThinkTECH Accelerator program with community bankers John Buhrmaster of First National Bank of Scotia, N.Y., and Scott McComb of Heartland Bank in Whitehall, Ohio.
The oldest Millennials are pushing 40 and are well established in the financial services landscape, but with Gen Z—the elders of whom are college-aged—we have a digital native group with new expectations.
In 2018, Same Day ACH volume reached 178 million transactions, an increase of 137 percent over the previous year. As a readily available faster payments option, and one that many community banks are familiar with, Same Day ACH serves as a practical and immediate option to support your bank.
While all faster payments options have one thing in common—moving money and information faster—there are often distinct differences or subtleties when comparing today’s various faster payments offerings.
“Because we’ve always done it that way” are perhaps the seven most painful words in the English language when it comes to innovation. It’s the death of new ideas that challenge conventional ways of thinking and the antithesis of the ICBA ThinkTECH Accelerator program.
Fostering innovation is critical to ensure community banks continue delivering high-tech, high-touch service. So, as ICBA looked ahead to how we could help community banks strategically align resources in support of innovation, we knew we would need to make an investment in the future.
